Ahmedabad Jeweller Allegedly Defrauded of Rs 96 Lakh Gold Bar in Elaborate Scam
In a shocking incident reported from Ahmedabad, a 29-year-old jeweller has fallen victim to a sophisticated fraud scheme, losing a valuable gold bar worth nearly Rs 96 lakh. The complainant, who operates a jewellery business in Isanpur, filed a formal complaint with the Satellite police on Wednesday, detailing how he was allegedly cheated by a man masquerading as a wealthy investor.
Details of the Fraudulent Encounter
According to police reports, the accused was introduced to the jeweller in October 2025 by another jeweller with a shop near the victim's store in Manek Chowk. The initial meeting took place at the accused's residence in the Satellite area, where he presented himself as a well-connected businessman involved in large government contracts. He expressed a keen interest in making substantial investments in gold and establishing long-term business partnerships with the complainant.
The Elaborate Scheme Unfolds
On November 25, 2025, the accused contacted the jeweller via WhatsApp from an international phone number, inquiring about the current gold price. After receiving the rate, he promptly placed an order for a 750-gram gold bar. The jeweller calculated the total value of the consignment at approximately Rs 96 lakh, which included delivery charges.
Later that same evening, the complainant personally delivered the gold bar to the accused's Satellite residence. Upon arrival, the accused immediately handed the gold to another individual who was present at the flat, identified only as "Vicky." When the jeweller requested payment, the accused assured him that the money would be delivered through an angadia service at Ratanpole.
Payment Promises Turn to Deception
However, when the complainant reached the courier's office, he was informed that no payment had been sent in his name. Over the next two days, the accused continued to provide assurances, asking the jeweller to wait patiently. Soon after, the accused switched off his phone, effectively vanishing without a trace.
The complainant later discovered that the accused had been involved in other cheating cases, suggesting a pattern of fraudulent behavior. The Satellite police have registered a formal case and initiated a thorough investigation into the matter.
Broader Implications and Police Action
This incident highlights the risks faced by small business owners in the jewellery sector, particularly when dealing with high-value transactions. Police authorities are urging caution and due diligence when engaging with new clients, especially those making large investment claims.
The investigation is ongoing, with efforts focused on tracing the accused and recovering the stolen gold. The case serves as a stark reminder of the importance of verifying credentials and securing payments in business dealings.
